In early 2025, Whale Rock Capital Management, a well-known hedge fund focusing on technology, media, and telecommunications sectors, reported double-digit losses. According to sources familiar with the company, the fund lost around 20% in the first three months of the year, including a 15% decline just in March. These results significantly exceed the overall drop of the S&P 500 index, which decreased by 4.6% during the same period. Analyzing this situation provides insight into the impact of political and economic factors on the dynamics of the stock market and the investment portfolios of major players.